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20121222
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CNBC 19
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Search Results 0 to 41 of about 42 (some duplicates have been removed)
CNBC
Dec 28, 2012 5:00pm EST
to be shared suffice. defense gets cut, revenue gets raised. it's the only way to make the numbers add up. >> what a lot of traders are saying, it was the first session of this five-day losing streak that we've been in, is that perhaps the markets really need to sell off. perhaps there neez to be a whoosh to the down side for washington to see how important it is to get a deal done. do you agree there needs to be something like that, a real point of pain for d.c. to get going? >> sure. i think that's right. i think there isn't a feeling that it's a real crisis. you hear the talk, well, if we go over the cliff, we can remedy it, we can do something two months later and make it retroactive. we need a signal from the market, but also need the ceos who have stepped forward and fundamentaled the campaign to deliver a message to both sides, because they do contribute to both sides, that if you don't get serious and solve this, lose our numbers. >> governor, it's interesting, coming from one of the ten largest states in terms of federal tax revenue. i'm curious what you think the implications ar
FOX Business
Dec 28, 2012 1:00pm EST
defense companies. it's also other companies that get a lot in the way of government contracts, and there's companies here, get 50% or more of their sales from government contracts. really interesting stuff. it's not just, again, defense companies. you're going to see waste management in there, an environmental company. motorola in there as well. we talked to fidelity. they are concerned as well telling amists to watch for certainly insexes -- indexes and others that cover financials and others cited there. adam: i have friends saying there's no fiscal cliff, it's make believe trumped up by the media and parties to scare people, get rate, and, perhaps bring about policy that's not true. look at the companies, the fact that the government -- look at the contracts that would be canceled, those are people who would lose jobs in several months. the recession that the cbo is legitimate looking at that list. >> that's right, adam. it's interesting because it flushes out what companies basically operate on the iron lung, with an iron lung, because of the government subsidies. it was interesting
CNBC
Dec 28, 2012 9:00am EST
't be surprising to see a skate-along through the session. you mentioned defense stocks. the sequester sectors have been doing quite well. financials, obviously. housing stocks on a tear this year. but take a look also at the defense index. the philadelphia defense index, we are very close to all-time highs on this defense index. there are a couple of names to watch within this index. general dynamics, which has had a nice run since about the mid-november time frame or so, announcing today that along with huntingtonengles, it has won a navy submarine contract. and those are secure even if the defense department undergoes sequestration. interesting deal being made there. >> taking a look at some of the biggest names that are among the biggest losers. traders have told us, if you're in the money on a lot of these names, why not take some money off gap for instance, masco. names like that are related to housing and retail. >> and speaking of retail, coors, third straight day of losses for shares of coors. a big winner so far this year. yesterday, citigroup had cautious comments from itses, saying in s
FOX Business
Dec 23, 2012 11:00pm EST
proliferation about half the area, wrong and dealing with russia on arms control and missile defense, wrong on china. i could go on, but i think that -- lou: we are about to run out of countries. >> the president got what he wanted. it will be more of the same. lou: to you agree? >> i think it is a pretty good choice. he won the election. he gets to choose. confirmed pretty readily? represents a sort of mainstream of american foreign policy, a little bit less for me, but not as far left as the first joist. lou: interesting, john mccain and others came out with really unreserved support for senator kerry. let's turn, if we may, to the failure in benghazi. and this report looks to me, i no there are varying views on this. and other whitewash, it seems. >> and the misses the point. we know what happened before and during periods grew up some allies, cover-ups. to me with the important thing is, what happened afterwards, which is nothing. then never hunted down, retaliated, responded. look at what happened to the original september 11th. 1998, attacks on u.s. embassies in east frica and in 2000
FOX Business
Dec 24, 2012 1:00pm EST
is making him bullish, believe it or not. and it is time to get defensive. larry, we will begin with you. how can you see this sorting out at the end of the day, a big deal, a little deal, no deal at all, what is the outcome? larry: the odds are pointing to a mini deal. expectations for a big deal are fading and fading quickly. it looks like it will be a mini deal with the tax extension will help those making under $250,000 per year and will not address the debt ceiling or spending or anything like that, it will be a patchwork of things that will make the market very nervous but given it is christmas eve, people are little bit negative but most christmas shopping. david: larry, round this time the irs issues its formal withholding guidance for the coming year. >> it'll be a bigger document than what we are used to because it will be giving guidance they are not sure even how to give guidance because they don't know what will happen. what i have been told by traders and people working in that industry is they will get guidelines assuming some sort of mini deal gets done. this is how you s
FOX Business
Dec 26, 2012 11:00am EST
for the pentagon. defense cuts are coming in a big way. a look at world currencies and how they are holding up against the dollar. ♪ [ malennouncer ] it's tt me of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. starsaving at citi.com/pricerewind. dagen: more good news for recovering the housing market. home prices in the 20 city index grew 4.3% from a year ago. chicago, new york were the only two cities with negative returns and october. starbucks urging washington to come together on the fiscal cliff. literally. the ceo is building employees that all d.c. area employees should write things on the cops. they want to serve as a rallying cry. of course, that is also a marketing ploy. you can get there from here
FOX Business
Dec 28, 2012 3:00pm EST
of the defense cuts spending in the sequestered items, but until now, no discussion at all about what happens to the other things other than income tax rates, and that's deflationary. good point. allen harry, seems to me, talk oil, allen, fluxuating, and we had a report that gasoline supplies with a nine month high on weaker demand. oil, is this the range to be stuck in for awhile, do you think? >> no. i think right now, and anything above $90, it's a buy, and as buy nd long in that level. i think we might see 92.50 to 94. there's going to be a parcel package, a sideways range, but not in the 91 range long. we'll break from there and go to 92.5 to 94. ashley: brent, at 110, the benchmark grade if you'd like for more than half the world's crude. do you expect brent to be remain above 100 in the coming year? >> short term, bullish on crude oil. longer term, there's an oversupply now, so longer term, bearish. we are below the hundred dollars in brent, but right now, anything above 110, it's a buy. ashley: long wti and short on brent? >> no, long both. ashley: long both. interesting. >> yeah, lo
CNBC
Dec 26, 2012 5:00pm EST
talk about that, talk about going over the cliff, sequestration and defense spending cuts. what did you see today in the defense names?dynamics, which is just going to be in the cross hairs, we saw somebody roll their productive puts up. we've been talking about put buying in all of these names and in general dynamics, we saw somebody roll up from the january 62 half puts to the 65 puts. so, they bought that spread, they bout the jan half spread 12,000 times and they rolled their puts up to the 65 strike. they are now long the 65 puts and they're long in an effective price of about $1.15. meaning they are protected down to $63.85. that's quite a ways from where the stock closed today, but you know, if the fiscal cliff gets any messier, then we can be there pretty quickly. >> yeah. guy, this was your trade that you recommended, should we reach a deal on the cliff. monster run, all the defense stocks since the beginning of november. >> i traded on the long side. i understand why people would be buying protective puts here. i still think this is going to be one of those, you know, sell the
CNBC
Dec 27, 2012 12:00pm EST
at defense contractors out of jobs. there's a lot of bad heading our way. to josh's point, people will still send their kids to school and still go shopping but everybody is going to cut back how they shop. they will be trading down, judge, i think. and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the early part of 2013 -- >> i don't like it in january, judge, for what i just mentioned because we will see tax laws selling. we have not seen. we have seen gains selling, people taking gains. when they start taking these loss and when all the rest of this stuff kicks in, that's when i worry these guys will make an even worse deal in panic in january. >> let's go to our gues
CNBC
Dec 27, 2012 5:00pm EST
of a correction and which sectors will lead us lower? >> we talk eed about defense. we talked about retail. but if we look at what we have to kind of give back, if we look at the s&p 500, that hit a resistance level at 1460. we had a rally, about 34% rally from october 11 to october 2012. we look at the nasdaq, during that same time period, that went up about 38% and, again, we've had a resistance level at about $31.50 there. looking at smaller cap stocks, the russell 2000. again, a 44% rally from october '11 to october '12. and we have resistance there, about 850. if we take those rally levels and we assume about a 38.2%, what we call a retracement, in technical analysis, you get to levels such as 1330 for the s&p 500 as correction territory. >> okay, so, you can cherry pick larry's comments, but the other comment was that we've got massive liquidity coming in. it's not just don't fight the felt. it's don't fight the bank of tokyo, don't fight the chinese refer make, it's going to continue to put money in, don't fight the ecb and don't fight the fed. so, with that title throw of liquidity
PBS
Dec 21, 2012 4:30pm PST
cuts and defense. and he didn't talk about the physician payment issue. physician under medicare are expected to get a 30% cut at the beginning of year. we don't know how that will work out. >> and he didn't say anything about the debt limit and this is one of the things he wanted in this fiscal cliff deal. by leaving that out, are we in for another big fight next year? >> it certainly looksike i t ses to be-- and i'eard this from many people-- that republicans think that the debt limit is their best leverage to get deep spending cuts. they didn't want to give it up in these negotiations. it certainly-- it looks like it's too radioactive to deal with in the next 10 days. so beginning in january and february, we're going to have a fight over the debt limit. and we're going to have a fight over spending, and it looks like we're going to have fight over the debt limit for the next couple years. >> one of the things the president said is there are real-world consequences-- his words-- in the whole debate. from the people you talk, to average americans, it seems like they get it. do y
FOX News
Dec 21, 2012 4:00pm PST
, courthouses, power plants, defense installations and also the presence of firearms being carried by the secret service in and capitol police to protect the president and all of our lawmakers. >> what if when adam lanza started shooting his way into sandy hook elementary school last friday he had been confronted by qualified armed security? will you at least admit it's possible that 26 little kids, that 26 innocent lives might have been spared that day? >> the nra also retained asa hutchison the former u.s. attorney, congressman and u.s. security official to develop a model school safety plan focused on issues of design and access control and training for students and educators alike that the group said could be tailored by any school to suit its needs. harris? >> harris: if people were anywhere near their computers or tv's today they saul duling news conferences all over the place with people on different sides of gun control debate appearing. but then they didn't seem to be anywhere near a compromise. >> no, harris. and president obama released a video message today vowing to fight nor new gu
CNBC
Dec 26, 2012 6:00pm EST
? >> you're a person who does have to heed my 20% in gold bullion. i think the defense is right to have. i'm not going to tell you to buy bonds that will yield 2% think i think gold is going to be the best defense you have against the worries that your just outlined. let's go to anthony in virginia, please. anthony? >> caller: washington redskins booyah p rg3 nation stand up. >> dan snooid ser your owner. have you thought about that at all? >> caller: i have a quick question. >> sure. >> caller: when the market is overbought, should i go for the long-term? >> when it's overbought, my own rule is that plus five, if we're very overbought, hey, take a pass. another time will come. however, you can get started small and hope it comes back if you just can't resist. sam in ohio. sam. >> caller: hey, jim. big glass city booyah to you. >> loving it what's up? >> caller: i got a question. i've been looking at a couple utility stocks, going with preferred instead of the common shares. i wanted to get your opinion on -- >> no, come on, man, we want upside. a lot of these utilities should have to be f
CNBC
Dec 28, 2012 4:00pm EST
to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and they come up with a bandaid, you risk losing more federal aid down the road, don't you? >> no question about you. we're a rural state. montana is the size of pefl r. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes
CNBC
Dec 26, 2012 4:00am EST
the -- the fantastic countries here. hi, jim, as we all know, the department of defense is planning to downsize the military over the next few years as we conclude our business in afghanistan. do you believe that the large amount of military personnel, dod contractors, and other support personnel will flood the job market and increase demand for goods? no. i don't think t will move the need. by the way, the army, navy, they don't move that fast. and if anything, there could be a peace dividend if we got to that where we would cut the budget deficit, a la happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a need mover. as a matter of fact, it can be negative for a lot of the defense companies as we know. they've been under a cloud because of these cuts. here's one from danny in new york. jim, i heard you say when considering playing the downside of an equity that you would short the stock rather than buy a put. please elaborate on your reasoning. i favor puts to avoid the high risk of a short position. danny, so glad you sent
CNBC
Dec 27, 2012 1:00pm EST
jordan, told me the only thing worst than defense cuts are no cuts at all. that said, you can delay the impact of see questions administrati -- see quest administration. it will take them time to come up with the cuts over the course of the fiscal year. that said -- because we never passed the budget but only continuing resolution, we've only got until about march to figure out how to deal with that problem. >> you better believe that there are a lot of democrats in states like california, virginia, florida, in the senate and the house who don't want to see those defense cuts either because, boy, those are big employers. let me grill on one thing and that is this, tax rates are scheduled to go up anyway next year because of surcharges on medicare and a payroll tax surcharge because of obama care, am i right on that? >> you're right. if you look at it, incomes are really going to go back to where they were during the meltdown. the american economy will not have moved forward for many households. >> and the payroll tax holiday will end automatically. an immediate 2% cut to disposable
CNBC
Dec 28, 2012 1:00pm EST
of the defense establishment? >> oh, sure. hey, look, you guys are one of the good guys. you've started to run the debt clock as well as the time clock so the american people are starting to understand how fat that $16.3 trillion is just growing and growing and growing. the reality of it is if we don't deal with the explosion in entitlement costs, the baby boom is now retiring -- >> so what would you like to see done there specifically? apparently there's no major fix on entitlements coming as any deal this weekend actually. >> that's actually where my frustration is. we go through a month here of agony and every time i turn on my television the talk of the fiscal cliff but the thing that's actually driving us off the fiscal cliff is our debt and the explosion in the entitlements and yet that's the very thing we avoid dealing with. you ask about what we should do? look, those on the republican side on the house have voted for the ryan budget and others which actually gave a vision of how to put market forces into entitlement spending. if you don't like the idea, give us another suggestion, but
CNBC
Dec 24, 2012 5:00am EST
support europe. i do not want less europe, i want more europe. with a single economic defense and political framework. unfortunate, europe has taken a different route. the bu accurates of europe have developed a policy of austerity, disastrous when applied to economies that were already in trouble. we have seen what happens in greece where we are still close to a civil war. naturally, i objected to this policy at the heads of state of government when they were presenting proposals, especially when i have to defend the italian interests. for example, i vetoed and suspended the council heads of state when i was presented with the fiscal impact. this is my position. i could not agree with them when they imposed homework to greece which i was in total disagreement with or when they proposed the token tax which we stupidly adopted. and it is clear that financial transactions will migrate to companies that do not have a total impact. i also disagreed when european banks were ordered to account for the government bonds that they have in their balance sheet at mark to market value and
FOX Business
Dec 27, 2012 3:00pm EST
some of the defense stocks are faring. ♪ . ashley: well guess what? deckers, the high-flyer today. the maker of ugg boots and other accessories like handbags, up about 8%, making it our power mover of the hour so what is behind this? we're looking at one-year chart. what is behind the big rally in deckers? a few things to consider. it is coming off the bottom. let's come back over here. dropped beginning of the year. trying to make a comeback. what is good? the weather. a powerful storm pounding the midwest, making its way to the northeast dumping up to two feet of snow in some areas. traders are speculating more people are going to the stores to pig up more boots, ugg boots. the uggs by the way, the number one searched product online, beating out tablets like the apple ipad. maybe they were just made a mistake on the typing came out as ugg but hey, they're doing well. lastly big short on the stock. deckers float is held by short sellers who were betting on lower prices when they cover their positions of course it puts upward pressure on the stock. deckers up 8.28% at this hour. >
FOX Business
Dec 28, 2012 4:00pm EST
's not just defense, but health care, you know, environmental waste services, and fidelity says, watch out, banks are going to get, of course, hurt too. mia activity is off 20% because they -- the capital investment, the capital spending is not there. you know, rich edson has been reporting this that, you know, it's hanging right now on the house. there's more than a dozen seats that the democrats hold in the senate that are -- those guys are in the red states so if they vote for any type of tax hikes with the midterms coming up, those senate democrats are looking for cover from the house. house moves first to give them political cover. then you go over the cliff, this is the chatter on wall street, and early in january, first few weeks of january, rich herd heard it too, there's a deal, everybody is a victor. whether or not the tax hikes hit the $250,000 crowd is the big question mark because that is solidly middle class, and midterms, nobody says it's a hit for the upper bracket. it's a middle class tax hike. shibani: we know nothing new was presented on the table. what does the presiden
FOX Business
Dec 26, 2012 4:00pm EST
actually being shut down on the defense contracting side and other government services not being paid for. that i can see. much higher taxes soaking up the revenue. so yes, that is a big thing. this is all gamesmanship about going over the cliff. both sides can say they win if they go fo over the cliff, oddly enough. and that is where we are going. shibani: i wants to ask both of you, when are we going to get back to fundamentals? the bottom line for investors, when are we going to get back to fundamentals, what month, what quarter in 2013? >> i think it will be in a couple of weeks here in january. it is earnings season, we will get a picture into what companies are seeing. it is almost irrelevant what happened in the fourth quarter. we want to pay attention to what they're seeing from their customers looking into the future. shibani: what are you looking for in 2013? >> i think we will get there when we figure out this cliff situation and the other half when the fed lays off the pedal because that is the other real peace driving us, driving the market beyond the market fundamentals. dav
CNBC
Dec 26, 2012 9:00am EST
to kick in. that's the only way we'll cut defense spending in this country. what is happening with the sequester? where are we on the pentagon cuts? >> nobody wants those pentagon cuts, including the president of the united states. there may be some on the left who would favor that. but that's not a dominant position. that's not where the political center of gravity is in the country. i think it's very likely that those sequester cuts are going to be turned off. now, remember the sequester, $1.2 trillion over the next nine years. that's a little over $100 billion a year. so half of that is defense, half of that is discretionary. the kick the can mini deal solution that we're talking about would identify some subset of spending cuts that would be the lowest hanging fruit still available that might turn off the sequester, or they could just turn off the trigger all together. the sequester exists because of a law passed by congress, another law passed by congress could change it. >> good to see you, john. thanks for the update. >> mastercard spending pulse saying it's the lowest
CNBC
Dec 27, 2012 4:00pm EST
in leadership positions and been an outspoken nor to the budget and defense. senator, great to have you with us here. >> we sure are going to miss you, one of the great group of moderates. >> maybe you're relieved to be leaving at this point. >> thinking of new year's eve here in washington and thinking, you know, this is the time to exit. >> go out while things get a little mess over there. how will you feeling after the variousade lines toit about getting things done. >> i really am optimistic and people are getting entrenched, and we're seeing it on the senate floor and in the end we're not going to let this happen. now, it will take give on those sides and, of course, there's posturing and not any of i believe there's a bipartisan solution that will give each side something they want but not something that they will love. >> assuming we have to have a deal by december 31, and there's every dean to believe you guys can stop -- an if down the path -- we're not going to get a brand bargain, there eat is not enough time for that? >> 40 years about that. i do think thatworking marc people are no
CNBC
Dec 28, 2012 3:00pm EST
outperformers is a broad one. higher growth names outperforming versus last year which was more defensive. what you do is look at the real laggards, hp and intel come to mind real quickly. >> right. >> they are down low for very good reasons. they are reason to be the desk top computing is definitely under siege with more mobile computing. the management issues with hp. all of those things need to be ironed out and as a result the stocks have underperformed. >> are you saying you would buy those here? >> we don't own them right now and not contemplating buying them right now. talk about strategy, you know, this is where you would look if you're espousing this strategy of buying longer term laggards that have underperformed. these are two, you know, exhibit "a" names that you would look at, but you'll have to be patient and you'll have to wait out a lot of internal activity, especially with respect to h and p before you get some growth. >> chris, am i right in thinking that some of michael's darlings are actually some of your dogs for 2013? specifically intel and hp? >> let's look at intel, hp a
CNBC
Dec 24, 2012 12:00pm EST
anything. but the north american aerospace defense command known as norad did drop google maps from the santa tracking system this year. now google is tracking the sleigh on its own. but which one is the real santa tracker? we will compare and contrast coming up. >>> but first, just moments until the bell. after today's show there are just four trading days left in the year. we'll find out from one market watcher how to be positioned going into the new year with no debt deal on the table in washington. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and
CNBC
Dec 24, 2012 6:00am EST
american air space defense demand or norad is ready to help you track the jolly old elf and his reindeer. the funniest line in vacation, the movie, christmas where they're at the dinner table and clark says that santa has been spotted coming across the border up north. and his cousin had to go, are you serious, clark? do you remember that part? cousin eddie, randy quaid, says, are you serious? go online and track the sleigh's progress at norad.org. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> welcome back to "squawk box." making headlines, this is pretty interesting for those who need to do last-minute christmas shopping. the amount of money you pay for an item onli
CNBC
Dec 28, 2012 4:00am EST
on the defense side and on the domestic side. about $109 billion the first year, 1.2 trillion over ten years. you'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play out. what sort of impact medium term do you think this is going to have on consumer and corporate confidence in america, given that the fiscal cliff is clearly weighed heavily on both of those in recent months? >> the sad thing, you know, from an observer's standpoint here is that there isn't much corporate or consumer confidence in the american government. and it's proved itself dysfunctional time and again over the last couple of years. what you hear now is not how people believe that there's going to be
CNBC
Dec 28, 2012 6:00am EST
medicare/medicaid, social security and defense. you have to cut almost everything else to zero to get close to balance or to make a big difference. so i think in today's world, given that those entitlements, even if you reform them and cut back back will increase as people like us eventually retire. it seems to me that sizing the government for something around 22 or so is probably doable. but not easy to get to. because you still have to have major cuts and major long titlement reform to get there. >> you see one of the major ceo guys, and i'm not going to quote which one, said yesterday looking for premiums on insurance to double because of obama care. and he said -- he made it very clear. he said we're going to cover 30 million people that aren't covered right now and it has to be paid for. irchbls's premiums are going to double. that they didn't tell us. >> that the costs would be up slightly. >> also, that's 30 million, 10% of the population. >> and that he they gave numbers to the cbo that said we were going to cut the deficit. and, in fact, it was a new entitlement that now is going
FOX Business
Dec 27, 2012 9:20am EST
got is a political attack from senator harry reid, a defensive move from the republicans, they're going at it and the dow is down 91 points. >> mel brooks at the governor says we have to save our phony baloney jobs. they are not. stuart: we have new numbers just out showing the number of workers on disability, social security disability, has hit a record high, 827,725 as of dec.. joining us is the author of hollywood hypocrites'. we have got social security, record number of people on disability, record deficit for social security, $47 billion a year, almost $1 billion a week flowing out more than coming in and young people, you voted for no change to entitlement, keep on paying for old people. what is going on? >> that is right. jasey told us to vote for barack obama. the irony is many young people look at social security and may know it is not going to be around for them in the future. they are not planning their lives and certainly not their retirement banking on social security solvency. the problem is you have the republican party who rrfuses to address letting younger wor
FOX Business
Dec 26, 2012 9:20am EST
a lot less economic activity, and particularly in the military sector, i think defense procurement will ground to a halt, and that will have, again, an impact on the economy and it will be deleterious. david: let's talk about the politics of some of this. >> sure. david: nancy pelosi -- i very rarely agree with her as you well know. >> i do know. david: but she said something i kind of agree with. she was talking about the republicans. she was defending her comment last may that taxes should only go up on people earning a million dollars. she's come down now to the president's level of 400,000. but she said -- she counter attacked as she often does, she said republicans have already become a little bit pregnant on their tax plans that they're never going to ever raise tax rates. i would have to agree with her. once boehner went off his cliff, if you will, on his pledge not to raise tax rates believing as you just suggested if you raise tax rates, you will probably have a slowdown in economic growth. once they went off that cliff -- what do you think? >> well, i agree with both you
Search Results 0 to 41 of about 42 (some duplicates have been removed)